Northern Spirits IPO – Review, Allotment, Subscription, GMP & DRHP

Northern Spirits Limited is into the liquor business. Northern Spirits is engaged in the business of importing and distribution of Whisky, Vodka, GIN, Red and white wine, Beer, tequila etc. Northern Spirits has chosen New Delhi (NCR) as its business capital, the place that constantly brews promises for the liquor entrepreneurs.  Northern Spirits IPO comprises public Issue Initial public offer of up to 43,02,000 Equity Shares of Face Value of Rs. 10/- each.

Let’s have a detailed review of the company and analytics of the Northern Spirits IPO release date, IPO offer price, subscription, Northern Spirits IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Northern Spirits IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 8.5/10
Industry Ranking 7.8/10
Company Background 7.9/10
Company Reputation 7.9/10
Competitive Edge 7.7/10
Financial Statements 7.8/10
Popularity Index 8.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.9/10
Top Brokers Review 7.9/10
Overall Ratings 8.1/10
Star Ratings ★★★★☆

Summary of Northern Spirits IPO

Northern Spirits IPONorthern Spirits Limited is engaged in the liquor business. Northern Spirits has chosen New Delhi (NCR) as its business capital, the place that constantly brews promises for the liquor entrepreneurs. This Company has been enjoying a business growth of around 40% YOY for last 4 years. Initial public offer of up to 43,02,000 Equity Shares of Face Value of Rs. 10/- each.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements,

  • During the FY 2017-18 the total revenue of the company increased to Rs. 2,589.29 Lacs as against Rs. 1,736.43 Lacs in the FY 2016-17, representing a increase of 49.12 % of the total revenue. This increase was mainly due to increase in revenue from operations. During the FY 2016-17 the total revenue of the company increased to Rs. 1732.25 Lacs as against Rs. 321.83 Lacs in the FY 2015-16, representing an increase of 438.26 % of the total revenue. This increase was mainly due to sale of products.
  • The net asset value per Equity Share was Rs. 70.64 and Rs. 69.80 as of June 30, 2018 and March 31, 2018, respectively, as per the Restated Standalone Financial Statements and Rs. 77.14 and Rs. 76.19 as of June 30, 2018 and March 31, 2018, respectively, as per the Restated Consolidated Financial Statements.
  • The Net Worth of the Company as per the Restated Financial Information as of on March 31, 2018 is Rs. 617.32 Lakhs and as on 30th September 2018 is Rs. 3367.66 Lakhs.
  • Profit after Tax for FY 2017-18 has been increased to Rs. 100.64 Lacs from Rs. 53.24 Lacs representing increase by 89.04 % from FY 2016-2017. Profit after Tax has increased due to comparative increase in revenue than expenses. Profit after Tax for FY 2016-17 has been increased to Rs. 53.24 Lacs from Rs. -50.85 Lacs from
    FY 2015-16. Profit after Tax has increased due to comparative increase in revenue than expenses.

The Promoters of this company are Mr. Kulbir Bakshi, Mr. Anuj Bakshi and Mr. Ankush BakshiThe lead manager to the issue is Finshore Management Services Limited and the Registrar to this issue is Cameo Corporate Services Ltd.


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Northern Spirits IPO Date

The opening and the closing date of Northern Spirits IPO is not known yet.


Northern Spirits IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Northern Spirits IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Northern Spirits IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Northern Spirits IPO Equity Share Offering

Initial public offer of up to 43,02,000 Equity Shares of Face Value of Rs. 10/- each.


Northern Spirits Limited – Company Overview

Northern Spirits Limited is engaged in the liquor business. Northern Spirits is engaged in the business of importing and distribution of Whisky, Vodka, GIN, Red and white wine, Beer, tequila etc.

Northern Spirits has chosen New Delhi (NCR) as its business capital, the place that constantly brews promises for the liquor entrepreneurs. This Company has been enjoying a business growth of around 40% YOY for last 4 years. Northern Spirits has crafted the International Brand Space for itself with all these resources and has ventured into market of New Delhi.

  • It has opened up big opportunities to distribute brands across high consumption states and union territories of:
  • Chandigarh
  • Uttar Pradesh
  • Himachal Pradesh
  • Punjab

The Company is promoted by Mr. Kulbir Bakshi, Mr. Anuj Bakshi and Mr. Ankush Bakshi and are the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Northern Spirits Limited:

  • Established and proven track record;
  • Leveraging the experience of the Promoters; 
  • Experienced management team and a motivated and efficient work force;
  • Cordial relations with the customers
  • Quality Assurance & Control

Business strategies of Northern Spirits Limited:

  • Focus on Enhancing the Project Execution Capabilities
  • Enhancing Operating Effectiveness and Efficiency
  • Continue to Build-Up a Professional Organization
  • Capture the High Growth Opportunities in the foreign liquor industry

Northern Spirits Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

On the basis of Standalone statement:-

Amount (in INR & Lakhs)
31-Jun-18 31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15
Total Assets 7692.55 2040.78 1255.15 784.12 463.74
Total Revenue 4,866.17 2589.28 1736.42 339.81 167.14
Total Expense 4,484.54 2450.59 1670.77 390.55 155.76
Profit After Tax 275.44 100.63 53.23 (50.85) 9.62

Earnings per Equity Share (in Lakhs)

31-Aug-18 31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15
Basic & Diluted 2.34 12.83 13.14 (16.12) 64.19

From the above statements, one could find that the Northern Spirits Limited may perform well.


Northern Spirits IPO – Promoters

The Promoters of this company are:

  • Mr. Kulbir Bakshi,
  • Mr. Anuj Bakshi
  • Mr. Ankush Bakshi

List of Related Parties (Key Managerial Personnel)

  • Mr. Ankush Bakshi
  • Ms. Nikita Sureka
  • Mr. Amit Kumar

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Northern Spirits IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
Equity Shares Issued:
Public  Issue  of  Equity  Shares  by  the 
Company 
43,02,000 Equity Shares of Face Value of Rs. 10/- each
of which
Issue  Reserved  for  the  Market
Makers 
2,16,000 Equity  Shares  of  Rs.10/-  each
Net Issue to the Public* 40,86,000 Equity Shares of Rs.10/- each
Of which
 Retail Investors Portion 20,43,000 Equity Shares of Rs.10/- each for cash at a price of Rs. [●] per share ( including a premium of Rs. [●]  per Equity Share) will  be  available  for  allocation  for  allotment  to  Retail  Individual Investors of up to Rs.2.00 Lakhs
 Non-Retail Investors Portion 20,43,000 Equity Shares of Rs.10/- each for cash at a price of Rs. [●]  per share ( including a premium of Rs. [●] per Equity Share) will be available for allocation for allotment to Other Investors of above Rs.2.00 Lakhs
Equity  Shares  outstanding  prior  to
the Issue 
1,17,49,200 Equity Shares of face value of Rs.10/- each 
Equity  Shares  outstanding  after  the
Issue 
1,60,51,200 Equity Shares of face value of  Rs.10/- each 

Northern Spirits IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company:
  •  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company; and
  •  General Corporate Purposes

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Northern Spirits IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Established and proven track record;
  • Leveraging the experience of their Promoters; 
  • Experienced management team and a motivated and efficient work force;
  • Cordial relations with their customers
  • Quality Assurance & Control

The relevant quantitative factors are:

Basic & Diluted EPS RONW in % NAV (Rs.)
31-Mar-14 0 14.75  
31-Mar-15 157.91 64.19  
31-Mar-16 (16.12) (49.16)
31-Mar-17 13.14 33.98
31-Mar-18 12.83 16.30
51.23
  • Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
Particulars P/E ratio
Highest [●]
Average [●]
Lowest [●]
  • Competitive Peers:

They believe that none of the listed companies in India offer products or services across the various business segments in which they operate. Hence a strict comparison is not possible.


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Northern Spirits IPO Lead Managers

Lead Managers
Finshore Management Services Limited
Anandlok, Block-A, 2nd Floor, Room No. 207,
227 A.J.C. Bose Road,
Kolkata-700020, India
Telephone: +91-33-22895101
Facsimile: +91-33-22895101
Email:
Investor grievance email:
Contact Person: Mr. S. Ramakrishna Iyengar
Website:www.finshoregroup.com
SEBI Registration Number: INM000012185

Northern Spirits IPO Registrar to offer

Registrar to the Offer
Cameo Corporate Services Ltd.
“Subramanian Building”, #1, Club House Road,
Chennai 600 002
Telephone: 044 – 2846 0390, 2846 0425
Facsimile: 044 – 2846 0129
Email:
Contact Person: Mr. R.D. Ramasamy, Director
Website: www.cameoindia.com
SEBI Registration Number: INR000003753

Other Details:

  • Statutory Auditor – M/s. Agarwal Saha & Associates, Chartered Accountants
  • Peer Review Auditor – M/s. J K Sarawgi & Company Chartered Accountants
  • Bankers to the Company – DBS Bank

Northern Spirits IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10

Northern Spirits IPO Grey Market Premium

The Northern Spirits IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Northern Spirits IPO News

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